Dan Sherbondy (DanTheLoanMan.com) Sure, prices are attractive, and you can buy a condo for the price of a beat-up Winnebago, however, what happens if the number of non-owner occupants climbs to a percentage not acceptable to lenders? Not a pretty picture! Lawsuits and delinquent dues are troublesome for lenders as well. As an investment, I prefer a small SFR over a condo. However, IF I planned on living in my condo for a long time, the fluctuation in the value of my unit would not really affect me that much. Watch for rising HOA dues on older developments! Check out the ratios below:

Conventional loan: No more than 15% of the owners can be delinquent in their HOA Dues and the owner occupancy percentage must be over 60%. No pending litigation and the lender must still approve the complex.

FHA and VA loans: Must be on the FHA approved Condo list (see FHA link below) AND the requirements listed on the approval page must be met. No pending litigation.

Canadians purchasing a condo in Las Vegas: No more than 5% of the owners can be delinquent in their HOA Dues and the owner occupancy percentage must be over 70%. No pending litigation.